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Condo index finds record increases.

Overall prices for Manhattan condominiums posted record increases this quarter. Prices were up 16.29 percent, the greatest increase in a single quarter since the Heller Macaulay Equities Condominium Report: Manhattan began tracking New York City condominium prices in January 1991, and a marked improvement over 1992's decline of 9.9 percent.

In a neighborhood-by-neighborhood analysis, the Gold Coast (Fifth, Madison, Park, Central Park West and Central Park South) posted a record increase to date with a 13.82 percent price rise, a continuation of 1992's 2.3 percent increase. While the area encompassing Lexington Avenue to York Avenue showed no (0.0 percent) change this quarter, this was an improvement over the neighborhood's 1992 overall price decline of 7.3 percent. Prices on the Upper West Side increased a record 24..01 percent, a dramatic rise over the area's 13.7 percent year end 1992 price decline.
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Title Annotation:increase in overall prices for New York, New York condominiums in 1993 according to 'Heller Macaulay Equities Condominium Report: Manhattan'
Publication:Real Estate Weekly
Date:Jun 23, 1993
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